State Compensation Insurance Fund earned $1.669 billion in premiums last year, up 52.56% compared to the $1.094 billion earned in 2013, according to the carrier's 2014 annual report.
In the annual report published Thursday, California's state-chartered carrier said the premium growth is a result of a hardening market as well as a reaction to the tiered pricing model it introduced in March 2013. With tiered pricing, State Fund segregates businesses based on their risk profile into different categories, or tiers, with the best risks receiving the lowest rates.
State Fund said it is...
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